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NIKE slid to a 52-week low and was removed from the S&P 100. Morgan Stanley and BMO resumed/initiated coverage with Underweight/Underperform ratings and $31/$30 price targets, citing weak China sales, softer lifestyle demand and margin pressure.
Nike, McDonald's and Constellation Brands shares slumped to 52-week lows. NKE fell 0.78% at close after its removal from the S&P 100 as of Sept. 21.